Question

Describe your ethical obligations pertaining to appraisers

Answer 1

Appraisers are the professionals, primary duty of them is to his or her client. They have a certain duties of confidentiality to their clients. For example If one want a copy of an appraisal report as a homeowner, he normally have to request it through their lender - obligation of numerical accuracy, an obligation to attain and maintain a certain level of competency and education and must generally conduct them as a professional.

Appraisers also have obligation to third parties such as buyers and sellers and others. This is an appraisers fiduciary duty and it is limited to those third parties who the appraisers knows, based on the scope of work or other written parameters of the assignment. The ethical rules that have nothing to do with clients and others. Appraisers must keep their files and records for a minimum of five years.